Joseph J. Murin Named Chairman of the Board of Chrysalis Holdings, LLC and President at NewDay USA, LLC

Former Ginnie Mae president and housing industry expert to expand investment firm’s leadership, further promoting growth-oriented mortgage, financial services companies

FULTON, Md.--(BUSINESS WIRE)--Chrysalis Holdings, LLC, a premier private investment company focused on building and growing successful businesses that provide home financing, data analytics and technology solutions in the mortgage banking and financial services industries, today announced that Joseph J. Murin has been named chairman of the board. Murin succeeds outgoing Chairman Paul “Tim” Thompson III, who remains on the company’s board.

“I am proud of our accomplishments in recent years, and am very eager to work with Joe Murin in my role as a director of the company. The breadth and depth of experience that Joe brings to the chairmanship ensures our continued upward trajectory in achievement.”

In addition to his position as chairman for Chrysalis Holdings, Murin has also been named president of NewDay USA, and will provide strategic direction as the nationwide mortgage lender expands its leadership role in the mortgage banking industry.

Murin was formerly president of the Government National Mortgage Association (Ginnie Mae), where his efforts ensured strong support for the housing market during the worst of the recent housing crisis. He served both the Bush Administration and the Obama Administration during his tenure as president of Ginnie Mae. He was most recently CEO at National Real Estate Information Services, a portfolio owned by funds managed by affiliates of Fortress Investment Group LLC. He is also a co-founder and the vice chairman of The Collingwood Group, LLC, a business advisory firm with a primary focus on financial services and technologies.

“Now is a great time to be a part of Chrysalis Holdings,” Murin said. “The company has been very successful in its approach to investing in growth-oriented businesses. I am eager to join this strong team of leaders, as we further expand the companies already in the portfolio and actively seek new opportunities where we can add value and develop growing companies into industry leaders.”

Key holdings in the Chrysalis Holdings portfolio of companies include NewDay USA, a nationwide VA, FHA, and reverse mortgage lender, and Chrysalis Analytics, LLC, a technology company that uses custom analytics to provide clients with customer acquisition and credit-decisioning tools and information. In July 2012, Chrysalis Holdings completed the sale of LendingSpace Partners, LLC, the mortgage loan origination software solutions provider, to Lender Processing Services, Inc. During the years that LendingSpace was among the key holdings at Chrysalis, the company became a leading provider of mortgage loan origination technology.

“It has been an honor to serve as the chairman of Chrysalis Holdings,” Tim Thompson said. “I am proud of our accomplishments in recent years, and am very eager to work with Joe Murin in my role as a director of the company. The breadth and depth of experience that Joe brings to the chairmanship ensures our continued upward trajectory in achievement.”

Rob Posner, CEO of Chrysalis Holding and NewDay Financial, LLC, said, “I am personally honored to have Joe as my partner in guiding our team as we position Chrysalis Holdings for strategic growth and further build NewDay USA into a premier national lender in the marketplace. Joe’s executive experience in the mortgage industry as a leader in both the private sector and government sector will prove invaluable as we move our opportunity forward in the years to come.”

Murin brings more than 40 years of industry experience to Chrysalis Holdings’ leadership team.

About Chrysalis Holdings, LLC

Chrysalis Holdings, LLC, is a premier investment company focused on building and growing successful businesses and intellectual capital within the financial services industry, and developing companies focused on leveraging technology and data analytics to propel sales and marketing efforts to the next level. Chrysalis provides early stage capital, infrastructure development and management expertise to growth oriented companies within its target markets. Key holdings include NewDay USA, LLC, and Chrysalis Analytics, LLC.

About NewDay USA, LLC

An industry leader committed to playing its part in supporting a vibrant, healthy housing market, NewDay USA, LLC is a nationwide VA, FHA, and reverse mortgage lender. The company focuses on helping active military personnel, veterans and their families, and the nation’s seniors achieve their financial and housing goals. In addition, NewDay USA operates a builder-correspondent lending division, creating relationships with builder-owned mortgage companies to meet the home purchase loan needs of their clients. The company’s workforce is highly trained, and the work environment is designed to support both best practices in mortgage lending and career growth for mortgage professionals.

NewDay USA is the exclusive provider of mortgage lending for Veterans of Foreign Wars (VFW) members, and is among the top providers of reverse mortgages in the U.S. In keeping with its commitment to helping past and current members of the U.S. armed services, the company is a major philanthropic partner of Purple Heart Homes and the National Coalition for Homeless Veterans. Community service and giving back in the form of volunteerism also plays a big role among the NewDay USA workforce.

NewDay USA is a key holding of Chrysalis Holdings, LLC, a premiere private investment company focused on the financial services industry. For more information about NewDay USA, visit www.newdayusa.com.